The UK's service sector is still outshining the rest of Europe

New data from Markit shows that the service sector activity is continuing to swell in November. New business activity in particular is seeing record highs.

It's now the fifth successive month that the purchasing managers' index (PMI) for the sector is at 60 or above. Any number above 50 implies expansion - readings this high suggest that the sector's booming.

Chris Williamson, chief economist at Markit, says that's good news for chancellor George Osborne - "a further piece of good news ahead of the Autumn statement."

Job creation in the sector is also surging - but so are backlogs of work, rising for their eighth successive month.

Related articles